The difference is the "X years" part. I'd rather own software that works until something actually breaks and I can choose if I keep paying for upgrades, rather than software deliberately exploding if I stop writing Adobe a metaphorical check every month.

I bought Lightroom 6 for $79 (upgrade price from LR3) about 26 months ago. It still works fine. Whatever features I'd have gotten with the CC package ($260 and continuing upward forever) are certainly not worth more than tripling the price.

Obviously if it's your profession or a more serious hobby the value proposition changes. But the "everyone pays the same price, even the occasional hobbyist" model is pretty shitty for the occasional hobbyist.